LOS ANGELES (Reuters) ? Netflix Inc's fourth-quarter revenue outpaced Wall Street's expectations as the video rental website reversed subscriber losses to sign up more than 600,000 new U.S. customers in the period, pushing its shares up 12 percent.
Netflix, which revolutionized the home video industry but in 2011 outraged customers with a surprise price hike and a botched attempt to split off its DVD-mail service, posted a 47 percent leap in fourth-quarter revenue to $876 million.
That outpaced an average forecast for $857.9 million, according to Thomson Reuters I/B/E/S.
Shares rose 12 percent to $106 in after-hours trading following the earnings report. They had ended at $95.04, up 2.6 percent, in the regular session on Nasdaq.
(Reporting by Lisa Richwine; Editing by Gary Hill)
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